Welbilt president and chief executive steps down

Equipment provider Welbilt yesterday (9 August) announced that its director, president and chief executive Hubertus Mühlhäuser will step down at the end the month (31 August).

Leaving to become chief executive and director of global manufacturer, CNH Industrial N.V, Mühlhäuser will be replaced by Welbilt’s current executive vice president and chief operating officer, Josef Matosevic.

Matosevic was appointed interim president and chief executive by the company’s board of directors, as it pursues a permanent chief executive from both internal and external candidates.

Cindy Egnotovich, chairperson of Welbilt’s board of directors, said: “The board thanks Hubertus for leading Welbilt through the successful spin-off from The Manitowoc Company, Inc., establishing the strategic roadmap for the company and building out the strong management team that has been executing this strategy.

“In only three years, Hubertus and his team have created tremendous shareholder value while rebuilding Welbilt - putting it on the path to be the leader in the commercial foodservice industry.

“The progress that the team has made creates a very strong foundation and strategic direction for the next chief executive to build upon. We wish him all the best in this next chapter of his career.

“One of the most important roles for a chief executive is assembling a strong management team and developing those leaders. This includes Josef Matosevic, who will serve as interim president and chief executive as the board undertakes a search for a new chief executive.

“As chief operating oficer, Josef was the first officer to join Hubertus’s team and has been instrumental in restructuring the business and implementing the Welbilt Production System.

“In addition, Josef has developed strong relationships with our major customers.

“Josef is the best person to ensure stability and continuity to Welbilt’s operations and customers, providing a seamless transition as we finalize our decision for the chief executive position through the board’s governance process.”